Rosenberg: Here's 13 Signs The US Economy Has Hit A Brick Wallhttp://www.businessinsider.com/rosenberg-heres-13-us-economic-data-points-thatll-really-make-you-cringe-2010-6/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Mon, 19 Mar 2018 22:33:23 -0400Vince Venezianihttp://www.businessinsider.com/c/4c743ea17f8b9a7853430000birumutTue, 24 Aug 2010 17:50:24 -0400http://www.businessinsider.com/c/4c743ea17f8b9a7853430000
Heard from someone that works in the food industry that WalMart sales look even for 3 weeks each month. That is week by week, people buy food there, at a relatively stable but low pace. On week 4, they are puzzled. Food sales drop off radically. And it repeats at the beginning of each new month
<a href="http://www.yuregininsesi.co">sesli sohbet</a> <a href="http://www.yuregininsesi.co">sesli chat</a>http://www.businessinsider.com/c/4c56d3117f8b9a7575060000AdamMon, 02 Aug 2010 10:15:44 -0400http://www.businessinsider.com/c/4c56d3117f8b9a7575060000
I agree and did somewhat the same thing when I was working for minimum wage at an awful Staples. Have you thought about making a day to day column or blog about your experiences? Without long-term storage, I could not reproduce what you did exactly. I did it for $1/day but left off meat but that was mostly because I am often a vegetarian, except for chicken soup and what not. I have not bought meat in decades, except chicken for my cat and occasionally fish. When I see what is sold and the obesity of the buyers, I think, fat and stupid.http://www.businessinsider.com/c/4c3a2b677f8b9a991c8f0800fsfSun, 11 Jul 2010 16:36:55 -0400http://www.businessinsider.com/c/4c3a2b677f8b9a991c8f0800
So now you admit to your own biases, yet expect others to cater to yours? Not to mention your failed ideology? Oh, really so now it is all Obama's fault? All of that national debt? Where were you from 1981-1993? Where have you seen this progressivism? All that has occurred in the past 30 years is more and more deregulation, privatization and the neutering of government. In fact government revenues in terms of gdp have been quite consistent for the past 60 years. It has only risen to any considerable extent at the small government (state and local) levels, the spending as a percentage of gdp didn't take off until Reagan.
Funny how pick and chose which periods in history to define as "progressive" while you leave out other parts in history which you do not deem as "progressive" based on your subjective interpretations. What happened during the 40s and 50s? The US inequality income gap was at its lowest point in history during the post-ww2 boom. The US was overall the most egalitarian nation in the world, with the highest living standards and had the brightest prospects. It was right after Kennedy's tax cuts that the US started to run budget deficits. It wasn't until Nixon and his neo-classical policies did capital really start to leave the US. Progressivism in the 70s? You mean Carter? He was a neo-classicalist who was more a fiscal conservative than Reagan. Carter even had a lower average unemployment rate. Real wages were higher in the 70s and had actually peaked. So now Reagan was a champion of small government? RR single handedly turned the US into the world's largest creditor nation into a debtor nation by the end of his term and he had increased the size of government and total government spending. Reagan was a complete failure, except of course in building a base of loyal devotees for the trickle down church.
It failed in the 60s and the 80s.
And then bankrupt the nation even quicker at lower tax rates? Why have taxes at all? Why can't the US have Haiti's tax rates? No moron, businesses borrowed as a result of the deregulated derivatives driven ponzi economy after their real wages collapsed due to the free trade and the "Free market" in action. You can't even define capital. Building estates and speculating on real estate is not capital investment, at least not according to Adam Smith.
BS. You can scream all you want yet F&F's loans were not the main part of the problem. The Fannie and Freddie backed loans have lower failure rates than that of Countrywide's, Indy Mac's and First Magnus. Private companies making alt-a and subprime loans that were not securitized by F&F were the worst. Prior to F&F when most people didn't even own homes real estate bubbles were just as bad, only they mainly impacted the play money of the rich. The most prosperous time in US history was the post-ww2 boom. The US had its highest growth during its highest tax rates.
You want a low tax heaven? See Haiti. Cutting taxes without cutting the requisite spending is sure the easiest way to destroy an economy and is fiscal insanity. You're a partisan fool of the lowest order.
It didn't work in the 60s or 80s, all it did was compound the US debt moron.http://www.businessinsider.com/c/4c3a2b677f8b9a3f7c620600fsfSun, 11 Jul 2010 16:36:55 -0400http://www.businessinsider.com/c/4c3a2b677f8b9a3f7c620600
So now you admit to your own biases, yet expect others to cater to yours? Not to mention your failed ideology? Oh, really so now it is all Obama's fault? All of that national debt? Where were you from 1981-1993? Where have you seen this progressivism? All that has occurred in the past 30 years is more and more deregulation, privatization and the neutering of government. In fact government revenues in terms of gdp have been quite consistent for the past 60 years. It has only risen to any considerable extent at the small government (state and local) levels, the spending as a percentage of gdp didn't take off until Reagan.
Funny how pick and chose which periods in history to define as "progressive" while you leave out other parts in history which you do not deem as "progressive" based on your subjective interpretations. What happened during the 40s and 50s? The US inequality income gap was at its lowest point in history during the post-ww2 boom. The US was overall the most egalitarian nation in the world, with the highest living standards and had the brightest prospects. It was right after Kennedy's tax cuts that the US started to run budget deficits. It wasn't until Nixon and his neo-classical policies did capital really start to leave the US. Progressivism in the 70s? You mean Carter? He was a neo-classicalist who was more a fiscal conservative than Reagan. Carter even had a lower average unemployment rate. Real wages were higher in the 70s and had actually peaked. So now Reagan was a champion of small government? RR single handedly turned the US into the world's largest creditor nation into a debtor nation by the end of his term and he had increased the size of government and total government spending. Reagan was a complete failure, except of course in building a base of loyal devotees for the trickle down church.
It failed in the 60s and the 80s.
And then bankrupt the nation even quicker at lower tax rates? Why have taxes at all? Why can't the US have Haiti's tax rates? No moron, businesses borrowed as a result of the deregulated derivatives driven ponzi economy after their real wages collapsed due to the free trade and the "Free market" in action. You can't even define capital. Building estates and speculating on real estate is not capital investment, at least not according to Adam Smith.
BS. You can scream all you want yet F&F's loans were not the main part of the problem. The Fannie and Freddie backed loans have lower failure rates than that of Countrywide's, Indy Mac's and First Magnus. Private companies making alt-a and subprime loans that were not securitized by F&F were the worst. Prior to F&F when most people didn't even own homes real estate bubbles were just as bad, only they mainly impacted the play money of the rich. The most prosperous time in US history was the post-ww2 boom. The US had its highest growth during its highest tax rates.
You want a low tax heaven? See Haiti. Cutting taxes without cutting the requisite spending is sure the easiest way to destroy an economy and is fiscal insanity. You're a partisan fool of the lowest order.
It didn't work in the 60s or 80s, all it did was compound the US debt moron.http://www.businessinsider.com/c/4c281ba27f8b9a7a04f50100snedlySun, 27 Jun 2010 23:48:50 -0400http://www.businessinsider.com/c/4c281ba27f8b9a7a04f50100
Guess you "the poor only eat cake and candy crowd" don't do much shopping. In southern WI at our local store 1% milk $2.29 gallon. Roma tomatoes .59lb. Tomatoes .99lb. Apples .99 lb. Dozen and a half X large eggs $1.31. Carrots $1.99lb. Bananas .43lb. Fresh strawberries $1.79lb. All this off tape from shopping trip last Friday. Not at Aldi either. So much for that crap that people are fat because candy and cake are cheaper than fresh fruits and veggies. The fat epidemic is not limited those on the lower end of the economic scale. Plenty of fatties to go around reguardless of race, age, or economic standing. The food police and their truely ignornat followers have their agendas and haven't a clue why people are fat or thin. My wife is one of those fatties and if you checked her food choices one would think she is slim and trim. It's all about calories in versus calories burned. Must be too simple for the food police to figure out.http://www.businessinsider.com/c/4c27af427f8b9a7206c20000Vee WhiteSun, 27 Jun 2010 16:06:26 -0400http://www.businessinsider.com/c/4c27af427f8b9a7206c20000
Vee White on June27, 2:39 pm
But Bush isn't running things in the whitehouse now. And their still not in good shape.
Obama created a hyped-up bail for wallstreet , when it wasn't really needed. And they went
wild with it ,big bonuses, big wild parties , trips... you name it, they did it. And they are still being bailed
out by Ben Bernanke , and Tim Geithner... unknown to most of the people, who have a right to know
of these matters. One of the fed chairman admittted this on C- Span. He said that it wasn't annouced
to the people. Obama is Dumb on the wars, and those corrupted commanders and Generals that he kept on, from the Bushes days in power. Among other things like creating jobs for americans.
The free trade agreements (like he's want with south korea now) these just help send more jobs overseas. And we already get to much junky crap from over there. And they buy very little from us.
The healthcare situation, he let the Insurance lobbiest buy him off the public option that would've help.lower the rates. So, did our Reps. Their all for them and none for us.
Unless he wises up and replaces Bernanke and Geithner for someone who can help things to
come back on the right track for the us, united states is a lost cause.
And get rid of Robert Gates, Mullins, and patreaus, so these illegal wars that Bush created will end
would help out our bad situation.
We wonder , who's really at helm?! Him or Rahm.http://www.businessinsider.com/c/4c27a76a7f8b9a9250050000Vee WhiteSun, 27 Jun 2010 15:32:57 -0400http://www.businessinsider.com/c/4c27a76a7f8b9a9250050000
Vee White on June 27, 2:29 pm
No, nemo, Their not going hungry the last week of the month. Their buying in bulk of what they need ..And they are just fed up with the cheap crap they sell to people.http://www.businessinsider.com/c/4c2794b47f8b9a1e4e350000JRMSun, 27 Jun 2010 14:13:08 -0400http://www.businessinsider.com/c/4c2794b47f8b9a1e4e350000
A downward cycle seems pretty likely to me at this point, but most of these 13 points are flimsy, and look like no more than minor fluctuations in the trends being portrayed. Try again.http://www.businessinsider.com/c/4c2788df7f8b9a2d4dd40100WhatAboutBobSun, 27 Jun 2010 13:22:34 -0400http://www.businessinsider.com/c/4c2788df7f8b9a2d4dd40100
It wasn't an illusion. Bush just didn't go far enought. We need to return tax rates to the 1986 levels of two rates, 15% and 28%. Because you can't have capitalism without capital, and you can't have capital when the state is siphoning off your earnings. Well, I guess businesses and individuals could borrow...wait, we already tried that...
The current economic climate is a result of too much government, i.e, Fannie and Freddie working feverishly to put people in houses that couldn't afford them, and the Fed pumping easy money into the financial system to compensate for anti-growth tax policy.
It worked in the 60s, it worked in the 80s, and it'll work again.http://www.businessinsider.com/c/4c2761da7f8b9adb5e1c0000bobzillah killahSun, 27 Jun 2010 10:36:10 -0400http://www.businessinsider.com/c/4c2761da7f8b9adb5e1c0000
Anybody can creat the illusion of prosperity by borrowing and de-regulating completely to create a huge bubble like Bush did. I don't call that economic growth.http://www.businessinsider.com/c/4c274c707f8b9a7344290000WhatAboutBobSun, 27 Jun 2010 09:04:47 -0400http://www.businessinsider.com/c/4c274c707f8b9a7344290000
You're right...economic growth IS more compassionate than economic contraction, isn't it?http://www.businessinsider.com/c/4c2734a57f8b9a9f404e0300bobzillah killahSun, 27 Jun 2010 07:23:17 -0400http://www.businessinsider.com/c/4c2734a57f8b9a9f404e0300
More of that Republican compassionate conservatism Bush was so famous for, take care of the people who are REALLY hurting the most first, the rich.http://www.businessinsider.com/c/4c2733cc7f8b9a9e40770300bobzillah killahSun, 27 Jun 2010 07:19:40 -0400http://www.businessinsider.com/c/4c2733cc7f8b9a9e40770300
Could be a modern update on the fishes and the loaves, how a thousand hungry people grilled and ate one Walmart shopper, and there were still leftovers to take home.http://www.businessinsider.com/c/4c2732ea7f8b9a8f41850200bobzillah killahSun, 27 Jun 2010 07:15:53 -0400http://www.businessinsider.com/c/4c2732ea7f8b9a8f41850200
In case you haven't guessed, that's Permabull for "I was wrong and Rosenberg was right; and I'm angry at all the bears because I don't listen to them and don't face the music about the data." Larry Kudlow and Art Laffer have been slinging bull for decades and haven't been right about anything yet, but that's okay, because they're bullish.http://www.businessinsider.com/c/4c26cdb97f8b9a3f1aff0000Richard HeadSun, 27 Jun 2010 00:04:09 -0400http://www.businessinsider.com/c/4c26cdb97f8b9a3f1aff0000
Sorry Sharon, but I spend about $20 per week for food and it's a very well balanced diet. Stop shopping at Trader Joes and Whole Foods Market and you will see that you can eat well for $20 a week.http://www.businessinsider.com/c/4c26cc0b7f8b9a4c6cb70100dvdivxSat, 26 Jun 2010 23:56:59 -0400http://www.businessinsider.com/c/4c26cc0b7f8b9a4c6cb70100
What's with all the "here's the ** signs" articles? I guess I know it's getting bad when I'll read the "here's the signs the apocalypse is nigh"http://www.businessinsider.com/c/4c26bba47f8b9a5b17d30100DamonSat, 26 Jun 2010 22:47:00 -0400http://www.businessinsider.com/c/4c26bba47f8b9a5b17d30100
SC you are misguided, David Rosenberg has been precise and accurate to a fault in his forecasts for the past two years. I defy you to provide just one example where Dr. Rosenberg has missed the mark since this crisis began.http://www.businessinsider.com/c/4c26bb7e7f8b9ac2715e0100Nick is a ""ickSat, 26 Jun 2010 22:46:21 -0400http://www.businessinsider.com/c/4c26bb7e7f8b9ac2715e0100
A single person can't eat for less that $100 a week? Are you serious?
Millions of people must be starving every week, and nobody has even noticed!
Quick, somebody call the funeral parlor to pick up all the starved corpses!http://www.businessinsider.com/c/4c26ba9b7f8b9a1172420000Paul Sat, 26 Jun 2010 22:42:35 -0400http://www.businessinsider.com/c/4c26ba9b7f8b9a1172420000
2008 my business went bust, and I found myself in a 3 month cash black hole. I was also 4 months out from my first Ironman triathlon. Not wanting to quit, I decided to train on $0.75 per day, or around 5 dollars per week. I maintained weight, ate fruit, vegetables, dairy and meat each day, kept my muscle ratio and performance, and finished in 10.5 hours. That said, I did have access to surplus refrigeration that the long-term poor don't usually have, and had a sosphisticated nutrition and shopping budget software package to help. Still, a dollar a day is not only possible, it's also potentially healthy.http://www.businessinsider.com/c/4c26b3247f8b9ae3161a0000Nick L NYCSat, 26 Jun 2010 22:10:44 -0400http://www.businessinsider.com/c/4c26b3247f8b9ae3161a0000
Organic?? Do you mean the 'Organic Milk' at Trader Joes for $5.99 a gallon?? Trader Joes is great but the people who shop there all look like Eco Losers who spend $20 a day for Starbucks and buy Priuses at Full pricehttp://www.businessinsider.com/c/4c26b2b07f8b9a63161a0100Nick L NYCSat, 26 Jun 2010 22:08:48 -0400http://www.businessinsider.com/c/4c26b2b07f8b9a63161a0100
There are over 300 million people and according to the household employment graph only 50% are working. Are the other 50% all under the age of 20 or retired??
And according to that graph and other indicators both household employment & job openings peaking in 2007 and rose during much of the 2000's when bush was president.
And the person above is right.. You can't feed yourself on less than $100 a week (and that is just for groceries) for a single person let alone a family. $20 a week isn't even enough for lunch and one Latte from Starbuckshttp://www.businessinsider.com/c/4c26a4af7f8b9a3713030400WhatAboutBobSat, 26 Jun 2010 21:09:03 -0400http://www.businessinsider.com/c/4c26a4af7f8b9a3713030400
BOLD.
RADICAL.
SUPPLY-SIDE TAX CUTS.
NOW.http://www.businessinsider.com/c/4c2698367f8b9ac76cd40000pelican briefSat, 26 Jun 2010 20:15:50 -0400http://www.businessinsider.com/c/4c2698367f8b9ac76cd40000
You sir, are an idiot for regurgitating liberal mythology.
The poor do not have horrible diets. They eat the same food as everyone else. Because the poor are underemployed, they spend *MORE* time eating. And because of changes to the food stamp program, the poor now use EBT cards (they look and function like ATM/credit cards but don't have the stigma that food stamp coupons had).http://www.businessinsider.com/c/4c2681797f8b9afc69180000SharonsjSat, 26 Jun 2010 18:38:49 -0400http://www.businessinsider.com/c/4c2681797f8b9afc69180000
When you don't have much money for food, you can't spend it on organic whole foods or fresh fruits and vegetables. You end up buying what is cheap or on sale: white bread, frankfurters, bacon, American cheese, spaghetti, and soda. Idiots like you, who have never tried to buy a week's worth of food for $20, belittle the poor.http://www.businessinsider.com/c/4c2680b37f8b9aae690f0100cheap processed crapSat, 26 Jun 2010 18:35:30 -0400http://www.businessinsider.com/c/4c2680b37f8b9aae690f0100
is very fattening.
The poor and ignorant have horrible diets. Fresh fruit and veg costs more per calorie than process crap that keeps forever due to processing and chemicals. Ho Hos anyone?http://www.businessinsider.com/c/4c2679237f8b9a6448110100Uncle WigglySat, 26 Jun 2010 18:03:15 -0400http://www.businessinsider.com/c/4c2679237f8b9a6448110100
Who knows, but it sounds like the unemployment checks are going to start drying up now....http://www.businessinsider.com/c/4c2666ed7f8b9a0e65970400dawgSat, 26 Jun 2010 16:45:33 -0400http://www.businessinsider.com/c/4c2666ed7f8b9a0e65970400
When do food stamps arrive? Maybe they come first of the month or something...http://www.businessinsider.com/c/4c2639fd7f8b9a4a20720700ObaMaoSat, 26 Jun 2010 13:33:49 -0400http://www.businessinsider.com/c/4c2639fd7f8b9a4a20720700
Indeed Rosenberg along with Shilling and Kass will be vindicated.
Both Rosenberg and Shilling were spot on in timely late 2008 bear market. Grated Rosie has been bearish thru the bear market rally but take a look at 1930-39 charts on how ugly bear market rally end up. Kass has been pretty nimble near top and bottom.http://www.businessinsider.com/c/4c2635f97f8b9aed5e080400suchcrapSat, 26 Jun 2010 13:16:41 -0400http://www.businessinsider.com/c/4c2635f97f8b9aed5e080400
"Yes, Rosey was right all along"
to that statement I say BS
and it's Rosie not Roseyhttp://www.businessinsider.com/c/4c262b397f8b9a341bca0600Super Size MeSat, 26 Jun 2010 12:30:48 -0400http://www.businessinsider.com/c/4c262b397f8b9a341bca0600
Check out PeopleofWalMart.com. Not many pix of thin people there. Walmart shoppers may indeed be "hungry," but from the looks of them, they must always be hungry.http://www.businessinsider.com/c/4c2625527f8b9ad202af0100nemoSat, 26 Jun 2010 12:05:38 -0400http://www.businessinsider.com/c/4c2625527f8b9ad202af0100
Heard from someone that works in the food industry that WalMart sales look even for 3 weeks each month. That is week by week, people buy food there, at a relatively stable but low pace. On week 4, they are puzzled. Food sales drop off radically. And it repeats at the beginning of each new month.
Is it possible that people are going hungry for that last week?http://www.businessinsider.com/c/4c26102c7f8b9acb12820100Bear Force 1Sat, 26 Jun 2010 10:35:24 -0400http://www.businessinsider.com/c/4c26102c7f8b9acb12820100
Yes, Rosey was right all along, but the "green on the screen" that persisted from March '09 to April this year had too many people convinced that this nice money printing/inventory rebuild rally was a new, organic and sustainable growth cycle (and a secular bull market). Well, it wasn't. And the bulls that thought it was have apparently never pulled up a 20+ year chart of stock prices or cyclically adjusted P/Es, never looked at long term trend lines and are oblivious to the ginormous debt (personal and government) to GDP mountain chart that simply can't get any bigger. And without net new credit, please tell me how a fiat money economy expands appreciably? These same people, until lately, ridiculed Bill Gross and company's "New Normal" and thought the old bullish fantasy they experienced was destined to prevail forever.
Being in the business, it's frustrating watching the "Children of the Bull Market" on Wall Street (that seem to receive most of CNBC's air time) lead investors down the perma bull path because they have been so brainwashed into being permanently bullish either for personal gain or through some delusional human mistake of thinking things are always going to get better. Thank you Rosey for not being one of these lemmings.
Read more: http://www.businessinsider.com/david-rosenberg-is-dow-5000-really-possible-2010-6#comment-4c260fb67f8b9a2c5a070200#ixzz0ryC7GBpyhttp://www.businessinsider.com/c/4c260cb87f8b9a5a0f7d0300usefuldissidentSat, 26 Jun 2010 10:20:40 -0400http://www.businessinsider.com/c/4c260cb87f8b9a5a0f7d0300
yees, he threw a bunch of crap everywhere and he's finally hit something ?